Generali Real Estate has completed the acquisition of the Bords de Seine 2 prime office building in Issy-les-Moulineaux, Paris, on behalf of the Generali Europe Income Holding (GEIH) and the GF Pierre European funds.
The seller is BNP Paribas REIM acting on behalf of the Diversipierre fund. Financial details were not disclosed, but the deal is believed to be in the low three digit range.
Bords de Seine 2 is a 19,720 m2 office building located in Issy les Moulineaux, in the immediate southwestern suburban area of Paris, lying on the left bank of the river Seine. Built in 2003 and renovated in 2014 with high quality standards and an HQE exploitation label, the building is located in the business district of Issy les Moulineaux and well connected by public transport with the rest of the Paris Region, even more with the future Grand Paris station “Issy RER”. The office complex is entirely leased to two major French financial institutions.
The acquisition is in line with Generali Real Estate’s strategy to invest in high-quality buildings ‘in the most important and resilient European cities such as the Paris Region’, the company said in a statement.
